Insider Buying: Reynolds Consumer Products Inc. (NASDAQ:REYN) Director Acquires $101,255.00 in Stock

Reynolds Consumer Products Inc. (NASDAQ:REYN) Director Rolf Stangl purchased 3,682 shares of the stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the acquisition, the director now owns 10,889 shares of the company’s stock, valued at approximately $299,447.50. This represents a 51.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Rolf Stangl also recently made the following trade(s):

• On Friday, November 1st, Rolf Stangl acquired 7,207 shares of Reynolds Consumer Products stock. The stock was bought at an average cost of $27.25 per share, with a total value of $196,390.75.

Reynolds Consumer Products Stock Up 0.5 %

REYN stock opened at $27.61 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The firm’s fifty day simple moving average is $28.22 and its 200-day simple moving average is $28.98. Reynolds Consumer Products Inc. has a 12 month low of $26.45 and a 12 month high of $32.65. The company has a market capitalization of $5.80 billion, a P/E ratio of 15.78 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. Reynolds Consumer Products’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share. As a group, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s payout ratio is presently 52.57%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays cut their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group began coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and an average price target of $32.17.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently made changes to their positions in REYN. Abich Financial Wealth Management LLC boosted its holdings in Reynolds Consumer Products by 21.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock worth $73,000 after buying an additional 414 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Reynolds Consumer Products by 4.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company’s stock worth $341,000 after acquiring an additional 550 shares in the last quarter. Covestor Ltd boosted its stake in shares of Reynolds Consumer Products by 14.8% during the 3rd quarter. Covestor Ltd now owns 4,564 shares of the company’s stock worth $142,000 after acquiring an additional 588 shares in the last quarter. Signaturefd LLC grew its position in shares of Reynolds Consumer Products by 13.0% during the 2nd quarter. Signaturefd LLC now owns 5,287 shares of the company’s stock valued at $148,000 after acquiring an additional 608 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of Reynolds Consumer Products by 1.3% in the 3rd quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock valued at $1,515,000 after purchasing an additional 641 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

About Reynolds Consumer Products

Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.